When a State Statute Requires a Security Interest in a Motor

question 51

Multiple Choice

When a state statute requires a security interest in a motor vehicle to be noted on the certificate of title, the security interest is perfected:

• A) by the certificate notation, when a non-inventory motor vehicle is involved.
• B) by filing under the UCC, regardless of how the vehicle is classified.
• C) by filing under the UCC, when the motor vehicle is inventory.
• D) either by the certificate notation or by a UCC filing, depending on how the state statute defines the term motor vehicle.

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Definitions:

Pattern Bargaining

A labor negotiation strategy where a union establishes a negotiated contract as a standard or "pattern" to be applied in negotiations with other employers in the same industry.

Multi-Party Negotiations

A negotiation process involving more than two parties or groups, typically used in complex business, labor, or political discussions.

Bargaining Power

The ability of a party to exert influence over another party in negotiations to achieve desirable terms.

Collective Bargaining

The practice of negotiating terms of employment, including wages and working conditions, between an employer and a group of workers or their representatives.